Tampa Bay Sporting Goods Inc. Case

Abstract

Providing accounting services is a business.  Since business functions in a world of competition and opportunities, accountants must be willing to compete and to seize opportunities.  Wrapped around a traditional core of year-end accrual accounting issues and procedures, Tampa Bay Sporting Goods Inc. case makes students experience accounting as a people business.  Accounting firm partners compete for clients.  Staff accountants compete to get noticed by partners.  When a retail business booms so rapidly that it outgrows current accounting services, an opportunity exists for an aggressive accounting firm to prove the value that it can provide to its clients.  Accounting firms must foster professional relationships both at the management and staff levels of a client's business in order to deliver successfully its services.  And as the firm prospers so does the individual professional who facilitated the accomplishment.  As a result of this dynamic, tasks such as preparing adjusting entries and relevant financial statements take on a new importance and urgency.